Randy, as His Two Older Brothers Before Him, Moved Out

question 58

Multiple Choice

Randy, as his two older brothers before him, moved out of the house when he was quite young. When he was 17, he and his older brother, Ted, wanted to buy a condominium in Nelson. They both had jobs and the bank was willing to lend them money and take a mortgage on the condo. Which of the following is a correct statement about the law governing this situation?

• A) These contracts would be binding on Randy only if he disclosed the fact that he was a minor to the other parties.
• B) All contracts with infants are void.
• C) The mortgage agreement would be binding on Randy as an adult if he continued to make payments after reaching the age of majority.
• D) A mortgage granted by Randy to the bank is effective until a court orders otherwise.
• E) All infants' contracts are enforceable as soon as they become adults.

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Definitions:

Scientific Enterprise

A systematic and organized approach to research and investigation aimed at expanding knowledge and understanding through empirical evidence and experimentation.

Generalise

The process of applying findings or observations from specific instances to broader populations or situations.

Dependent Variable

The outcome observed in an experiment, which may change in response to manipulations of the independent variable.

Independent Variable

In experimental and statistical research, the variable that is manipulated or changed to observe its effect on a dependent variable.